Why Portugal’s Tax Deal is Bad for Millionaires

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Portugal has what is called a non-habitual residence (NHR) tax regime. In effect, it is a program that allows qualifying individuals the opportunity to become tax residents of a “white-listed” jurisdiction and still legally eliminate their taxes on most foreign-source income.

The tax residency is good for 10 years and does not come with the typical obligation that you visit or live in Portugal for part of the year to maintain your tax resident status there.

The biggest draw of the program is the opportunity to reduce your income tax to zero.

Is it a good deal for everyone?

In this video, Andrew explains why Portugal’s tax deal is bad for Millionaires.

00:00 Start
0:22 Portugal's NHR Program
2:00 Tax Reduction Options in Europe
4:53 Living in Europe
6:07 Living in Portugal
7:19 Living in Ireland

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